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  3. Microeconomics Study Set 10
  4. Quiz 16: The Factors of Production

In General,the Larger the Membership of a Union The

Question 178
Multiple Choice

In general,the larger the membership of a union the: A) more power it has to keep wages above equilibrium. B) less power it has to keep wages above equilibrium. C) more likely the distribution of power within the organization will make it less effective. D) greater the chance that it abuses its power.

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A "company town" is one in which: A) all employees of a company live within its confines. B) a single company employs the great majority of people in a town and owns most structures in the town. C) the company directs most town business by assisting local government. D) a single company directly regulates and monitors all town activity.
Q 176
A monopsony is an example of: A) a buyer holding market power. B) a seller holding market power. C) an efficient market with no market power. D) a single seller holding all market power.
Q 177
The most common way for workers to hold market power is when: A) a monopsony exists. B) they are unionized. C) they compete for minimum wage. D) there are a lot of them.
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